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Charter Hall Long WALE REIT

ASX:CLW
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CLW
ASX
A$2B
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

Charter Hall Long WALE REIT is an Australian Real Estate Investment Trust (REIT) listed on the ASX and investing in high quality Australasian real estate assets that are predominantly leased to corporate and government tenants on long term leases. The last earnings update was 63 days ago. More info.


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CLW Share Price and Events
7 Day Returns
0.7%
ASX:CLW
0.1%
AU REITs
1.3%
AU Market
1 Year Returns
40.8%
ASX:CLW
20.5%
AU REITs
9.9%
AU Market
CLW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Charter Hall Long WALE REIT (CLW) 0.7% 3.6% 13.1% 40.8% - -
AU REITs 0.1% 0.4% -2.8% 20.5% 23.4% 58.9%
AU Market 1.3% -0.6% -1% 9.9% 17.6% 17.8%
1 Year Return vs Industry and Market
  • CLW outperformed the REITs industry which returned 20.5% over the past year.
  • CLW outperformed the Market in Australia which returned 9.9% over the past year.
Price Volatility
CLW
Industry
5yr Volatility vs Market

CLW Value

 Is Charter Hall Long WALE REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Charter Hall Long WALE REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Charter Hall Long WALE REIT.

ASX:CLW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:CLW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 30%) (25.02%))
0.606
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:CLW using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

ASX:CLW Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$6.13
Current discount Discount to share price of A$5.80
= -1 x (A$5.80 - A$6.13) / A$6.13
5.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Charter Hall Long WALE REIT is available for.
Intrinsic value
5%
Share price is A$5.8 vs Future cash flow value of A$6.13
Current Discount Checks
For Charter Hall Long WALE REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Charter Hall Long WALE REIT's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Charter Hall Long WALE REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Charter Hall Long WALE REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Charter Hall Long WALE REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CLW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.26
ASX:CLW Share Price ** ASX (2019-10-11) in AUD A$5.8
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 15.7x
Australia Market PE Ratio Median Figure of 557 Publicly-Listed Companies 17.93x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Charter Hall Long WALE REIT.

ASX:CLW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CLW Share Price ÷ EPS (both in AUD)

= 5.8 ÷ 0.26

21.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Charter Hall Long WALE REIT is overvalued based on earnings compared to the AU REITs industry average.
  • Charter Hall Long WALE REIT is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Charter Hall Long WALE REIT's expected growth come at a high price?
Raw Data
ASX:CLW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
10.4%per year
Australia REITs Industry PEG Ratio Median Figure of 31 Publicly-Listed REITs Companies 1.2x
Australia Market PEG Ratio Median Figure of 357 Publicly-Listed Companies 1.69x

*Line of best fit is calculated by linear regression .

ASX:CLW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.94x ÷ 10.4%

2.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Charter Hall Long WALE REIT is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Charter Hall Long WALE REIT's assets?
Raw Data
ASX:CLW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$4.09
ASX:CLW Share Price * ASX (2019-10-11) in AUD A$5.8
Australia REITs Industry PB Ratio Median Figure of 43 Publicly-Listed REITs Companies 1.11x
Australia Market PB Ratio Median Figure of 1,705 Publicly-Listed Companies 1.8x
ASX:CLW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CLW Share Price ÷ Book Value per Share (both in AUD)

= 5.8 ÷ 4.09

1.42x

* Primary Listing of Charter Hall Long WALE REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Charter Hall Long WALE REIT is overvalued based on assets compared to the AU REITs industry average.
X
Value checks
We assess Charter Hall Long WALE REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Charter Hall Long WALE REIT has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CLW Future Performance

 How is Charter Hall Long WALE REIT expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Charter Hall Long WALE REIT expected to grow at an attractive rate?
  • Charter Hall Long WALE REIT's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Charter Hall Long WALE REIT's earnings growth is expected to exceed the Australia market average.
  • Charter Hall Long WALE REIT's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CLW Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CLW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 10.4%
ASX:CLW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.5%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average 2.5%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average -3.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:CLW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CLW Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 153 99 99 3
2021-06-30 149 96 96 3
2020-06-30 144 92 92 3
2019-10-13
ASX:CLW Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 133 64 70
2019-03-31 129 61 67
2018-12-31 125 59 64
2018-09-30 120 60 74
2018-06-30 115 62 83
2018-03-31 114 61 83
2017-12-31 112 60 83
2017-09-30 98 50 59
2017-06-30 84 39 35
2017-03-31 62 26 18
2016-12-31 41 12 2
2016-09-30 35 12 12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Charter Hall Long WALE REIT's earnings are expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).
  • Charter Hall Long WALE REIT's revenue is expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:CLW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Charter Hall Long WALE REIT Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CLW Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.30 0.30 0.30 1.00
2021-06-30 0.29 0.29 0.29 1.00
2020-06-30 0.28 0.28 0.28 1.00
2019-10-13
ASX:CLW Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.26
2019-03-31 0.27
2018-12-31 0.27
2018-09-30 0.32
2018-06-30 0.38
2018-03-31 0.39
2017-12-31 0.40
2017-09-30 0.33
2017-06-30 0.24
2017-03-31 0.09
2016-12-31 0.02
2016-09-30 0.06

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Charter Hall Long WALE REIT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Charter Hall Long WALE REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Charter Hall Long WALE REIT has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CLW Past Performance

  How has Charter Hall Long WALE REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Charter Hall Long WALE REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Charter Hall Long WALE REIT's year on year earnings growth rate was positive over the past 5 years.
  • Charter Hall Long WALE REIT's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Charter Hall Long WALE REIT's 1-year earnings growth is negative, it can't be compared to the AU REITs industry average.
Earnings and Revenue History
Charter Hall Long WALE REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Charter Hall Long WALE REIT Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CLW Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 133.36 69.56 9.97
2019-03-31 128.89 66.64 9.53
2018-12-31 124.70 63.70 9.10
2018-09-30 119.80 73.50 9.05
2018-06-30 114.62 83.33 8.99
2018-03-31 113.51 83.31 11.55
2017-12-31 112.40 83.30 14.10
2017-09-30 98.20 58.95 12.90
2017-06-30 84.00 34.60 11.70
2017-03-31 62.25 18.05 7.35
2016-12-31 40.50 1.50 3.00
2016-09-30 34.50 12.40 2.45
2016-06-30 28.50 23.30 1.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Charter Hall Long WALE REIT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Charter Hall Long WALE REIT used its assets less efficiently than the AU REITs industry average last year based on Return on Assets.
  • Charter Hall Long WALE REIT's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Charter Hall Long WALE REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Charter Hall Long WALE REIT has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CLW Health

 How is Charter Hall Long WALE REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Charter Hall Long WALE REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Charter Hall Long WALE REIT's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Charter Hall Long WALE REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Charter Hall Long WALE REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Charter Hall Long WALE REIT Company Filings, last reported 3 months ago.

ASX:CLW Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,321.46 546.51 6.41
2019-03-31 1,321.46 546.51 6.41
2018-12-31 1,125.40 543.30 5.50
2018-09-30 1,125.40 543.30 5.50
2018-06-30 940.37 430.29 5.52
2018-03-31 940.37 430.29 5.52
2017-12-31 934.00 382.90 94.80
2017-09-30 934.00 382.90 94.80
2017-06-30 817.40 357.60 2.90
2017-03-31 817.40 357.60 2.90
2016-12-31 802.20 314.20 14.10
2016-09-30 802.20 314.20 14.10
2016-06-30 158.00 68.20 0.50
  • Charter Hall Long WALE REIT's level of debt (41.4%) compared to net worth is high (greater than 40%).
  • Unable to establish if Charter Hall Long WALE REIT's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (11.7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Charter Hall Long WALE REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Charter Hall Long WALE REIT has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CLW Dividends

 What is Charter Hall Long WALE REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.64%
Current annual income from Charter Hall Long WALE REIT dividends. Estimated to be 5.01% next year.
If you bought A$2,000 of Charter Hall Long WALE REIT shares you are expected to receive A$93 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Charter Hall Long WALE REIT's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.5%).
  • Charter Hall Long WALE REIT's dividend is below the markets top 25% of dividend payers in Australia (5.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:CLW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 407 Stocks 4.2%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:CLW Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.30 4.00
2021-06-30 0.29 4.00
2020-06-30 0.28 4.00
2019-10-13
ASX:CLW Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-06-04 0.269 4.961
2018-06-19 0.272 6.244
2018-03-05 0.264 6.501
2018-02-13 0.260 6.895
2017-08-17 0.256 6.196
2017-02-21 0.239 5.866

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Charter Hall Long WALE REIT has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Charter Hall Long WALE REIT only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Charter Hall Long WALE REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Charter Hall Long WALE REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Charter Hall Long WALE REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Charter Hall Long WALE REIT has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CLW Management

 What is the CEO of Charter Hall Long WALE REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Harrison
AGE 53
CEO Bio

Mr. David William Harrison has been Group Chief Executive Officer and Managing Director at Charter Hall Group since February 16, 2016. He is responsible for all aspects of the Charter Hall business, with specific focus on strategy and continuing the momentum from building an Investment Manager recognized as a multi-core sector market leader. Mr. Harrison has several years of property market experience across office, retail and industrial sectors in multiple geographies globally. Mr. Harrison was Alternate Executive Director at Charter Hall Education Trust until November 2018. He serves as MD, and Group CEO of Charter Hall Retail Management Limited at Charter Hall Retail REIT. Mr. Harrison is responsible for investment management, strategy, corporate transactions and property investment activities at Charter Hall Group and overseeing the operation of the investment management divisions, including the listed REITs, wholesale unlisted and retail unlisted divisions, together with investor relations and transactions. Prior to this, he was a Managing Director at Savills in Australia. Mr. Harrison has transacted approximately $6 billion of commercial, retail and industrial property assets across all capital city of Australia over ten years. He serves as a Director of Charter Hall Office Management Limited. He has been an Executive Director of Charter Hall Retail Management Limited since March 1, 2010. He has been an Executive Director of Charter Hall WALE Limited at Charter Hall Long WALE REIT since February 16, 2016 and also serves as its Chief Executive Officer. Mr. Harrison serves as an Executive Director of Charter Hall Funds Management Ltd. He has overseen the growth of the Charter Hall Group from $500 million to $23.2 billion of assets under management in 14 years. He was a Director of Charter Hall Education Trust since December 17, 2018. Mr. Harrison has been an Executive Director of Charter Hall Group since August 30, 2006. He served as the Chairman of Charter Hall Office Management Limited until April 28, 2011. He has an extensive Australian commercial property markets experience. He is Director of Charter Hall Retail REIT. He is a Director and Vice-President of the Property Council of Australia. He is an executive member of various Fund Boards and Partnership Investment Committees, and Chair of the Executive Property Valuation Committee and Executive Leadership Group. He is also a member of the Property Male Champions of Change. Mr. Harrison is Fellow of the Australian Property Institute (FAPI). He holds a Bachelor of Business Degree in Land Economy from the Western Sydney University and Graduate Diploma in Applied Finance from Securities Institute of Australia.

CEO Compensation
  • Insufficient data for David to compare compensation growth.
  • Insufficient data for David to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team Tenure

Average tenure of the Charter Hall Long WALE REIT management team in years:

1.8
Average Tenure
  • The average tenure for the Charter Hall Long WALE REIT management team is less than 2 years, this suggests a new team.
Management Team

David Harrison

TITLE
CEO & Executive Director of Charter Hall WALE Limited
AGE
53

Kerri Leech

TITLE
Head of Finance

Philip Cheetham

TITLE
Head of Listed Investor Relations
TENURE
2.8 yrs

Mark Bryant

TITLE
Company Secretary & Group General Counsel
TENURE
0.8 yrs

Adrian Tasman Taylor

TITLE
Executive Director & Office CEO of Charter Hall WALE Limited
AGE
47
TENURE
3.3 yrs

Ben Ellis

TITLE
Head of Wholesale - Retail & Deputy Fund Manager
TENURE
0.8 yrs

Steven Bennett

TITLE
Direct CEO

Avi Anger

TITLE
Fund Manager

Charisse Nortjé

TITLE
Assistant Company Secretary
Board of Directors Tenure

Average tenure and age of the Charter Hall Long WALE REIT board of directors in years:

3.3
Average Tenure
56.5
Average Age
  • The tenure for the Charter Hall Long WALE REIT board of directors is about average.
Board of Directors

Peeyush Kumar Gupta

TITLE
Non-Executive Chairman of Charter Hall WALE Limited
COMPENSATION
A$144K
AGE
60
TENURE
3.1 yrs

David Harrison

TITLE
CEO & Executive Director of Charter Hall WALE Limited
AGE
53
TENURE
3.7 yrs

Adrian Tasman Taylor

TITLE
Executive Director & Office CEO of Charter Hall WALE Limited
AGE
47
TENURE
3.3 yrs

Glenn Fraser

TITLE
Independent Non-Executive Director of Charter Hall WALE Limited
COMPENSATION
A$110K
AGE
62
TENURE
3.4 yrs

Ceinwen Kirk-Lennox

TITLE
Independent Non-Executive Director of Charter Hall WALE Limited
COMPENSATION
A$97K
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Charter Hall Long WALE REIT individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
16. Sep 19 Sell Paradice Investment Management Pty Ltd. Company 06. Sep 19 12. Sep 19 -716,801 A$5.81 A$-4,058,056
13. Sep 19 Buy Charter Hall Funds Management Ltd. Company 30. Aug 19 30. Aug 19 3,774,930 A$5.20 A$19,629,631
10. Sep 19 Buy Adrian Tasman Taylor Individual 10. Sep 19 10. Sep 19 5,929 A$5.20 A$30,831
10. Sep 19 Buy Peeyush Kumar Gupta Individual 10. Sep 19 10. Sep 19 32,230 A$5.20 A$167,596
03. Sep 19 Sell AMP Limited, Asset Management Arm Company 30. May 19 26. Aug 19 -176,163 A$5.45 A$-959,619
03. Sep 19 Buy AMP Limited, Asset Management Arm Company 15. May 19 14. Aug 19 855,841 A$4.97 A$4,251,224
03. Sep 19 Buy National Mutual Funds Management Limited Company 15. May 19 29. Aug 19 359,018 A$5.28 A$1,897,301
03. Sep 19 Sell AMP Capital Investors Limited Company 29. Apr 19 19. Aug 19 -760,778 A$5.05 A$-3,816,080
03. Sep 19 Buy AMP Capital Investors Limited Company 26. Apr 19 28. Aug 19 1,747,889 A$4.93 A$8,351,511
03. Sep 19 Buy Paradice Investment Management Pty Ltd. Company 14. May 19 30. Aug 19 15,346,568 A$5.05 A$77,535,190
14. Jun 19 Sell Pendal Group Limited Company 12. Feb 19 28. May 19 -828,670 A$4.57 A$-3,783,181
14. Jun 19 Buy Pendal Group Limited Company 20. Feb 19 06. Jun 19 14,428,366 A$4.59 A$66,020,116
29. Apr 19 Buy Ipac Asset Management Limited Company 07. Feb 19 21. Mar 19 61,722 A$4.50 A$277,457
29. Apr 19 Sell AMP Capital Investors Limited Company 02. Jan 19 26. Apr 19 -416,545 A$4.52 A$-1,877,151
29. Apr 19 Buy AMP Capital Investors Limited Company 11. Jan 19 26. Apr 19 6,241,402 A$4.63 A$28,904,959
29. Apr 19 Sell AMP Limited, Asset Management Arm Company 17. Jan 19 11. Feb 19 -59,509 A$4.33 A$-257,957
29. Apr 19 Buy AMP Limited, Asset Management Arm Company 07. Feb 19 26. Apr 19 569,657 A$4.57 A$2,604,156
29. Apr 19 Sell Charter Hall Funds Management Ltd. Company 26. Apr 19 26. Apr 19 -5,000,000 A$4.66 A$-23,299,998
29. Apr 19 Buy Charter Hall Funds Management Ltd. Company 19. Dec 18 19. Dec 18 5,852,210 A$4.05 A$23,701,444
17. Apr 19 Sell Peeyush Kumar Gupta Individual 15. Apr 19 15. Apr 19 -22,000 A$4.57 A$-100,540
17. Apr 19 Sell Peeyush Kumar Gupta Individual 15. Apr 19 16. Apr 19 -30,014 A$4.58 A$-137,469
04. Mar 19 Sell The Vanguard Group, Inc. Company 20. Jun 17 25. Feb 19 -3,129,777 A$4.55 A$-13,823,808
04. Mar 19 Buy The Vanguard Group, Inc. Company 21. Jun 17 27. Feb 19 11,563,115 A$4.55 A$52,485,928
25. Feb 19 Sell UBS Asset Management Company 20. Feb 19 21. Feb 19 -150,458 A$4.43 A$-667,035
25. Feb 19 Buy UBS Asset Management Company 20. Feb 19 21. Feb 19 209,088 A$4.55 A$933,568
21. Feb 19 Sell UBS Asset Management Company 22. Oct 18 19. Feb 19 -4,506,723 A$4.32 A$-19,244,167
21. Feb 19 Buy UBS Asset Management Company 25. Oct 18 23. Jan 19 265,337 A$4.33 A$1,128,268
28. Dec 18 Buy Glenn Fraser Individual 28. Dec 18 28. Dec 18 8,210 A$4.05 A$33,250
19. Dec 18 Buy David Harrison Individual 19. Dec 18 19. Dec 18 35,860 A$4.05 A$145,233
19. Dec 18 Buy Ceinwen Kirk-Lennox Individual 19. Dec 18 19. Dec 18 5,460 A$4.05 A$22,113
19. Dec 18 Buy Peeyush Kumar Gupta Individual 19. Dec 18 19. Dec 18 24,691 A$4.05 A$99,999
X
Management checks
We assess Charter Hall Long WALE REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Charter Hall Long WALE REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CLW News

Simply Wall St News

How Does Charter Hall Long WALE REIT (ASX:CLW) Fare As A Dividend Stock?

Is Charter Hall Long WALE REIT (ASX:CLW) a good dividend stock? … Charter Hall Long WALE REIT pays a 4.6% dividend yield, and has been paying dividends for the past three years. … First, we think Charter Hall Long WALE REIT is paying out an acceptable percentage of its cashflow and profit.

Simply Wall St -

With A 5.3% Return On Equity, Is Charter Hall Long WALE REIT (ASX:CLW) A Quality Stock?

Our data shows Charter Hall Long WALE REIT has a return on equity of 5.3% for the last year. … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Charter Hall Long WALE REIT: 5.3% = AU$70m ÷ AU$1.3b (Based on the trailing twelve months to June 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Charter Hall Long WALE REIT's Debt And Its 5.3% Return On Equity While Charter Hall Long WALE REIT does have some debt, with debt to equity of just 0.41, we wouldn't say debt is excessive.

Simply Wall St -

What Kind Of Shareholders Own Charter Hall Long WALE REIT (ASX:CLW)?

Check out our latest analysis for Charter Hall Long WALE REIT ASX:CLW Ownership Summary, August 7th 2019 What Does The Institutional Ownership Tell Us About Charter Hall Long WALE REIT? … Insider Ownership Of Charter Hall Long WALE REIT The definition of company insiders can be subjective, and does vary between jurisdictions. … Our information suggests that Charter Hall Long WALE REIT insiders own under 1% of the company.

Simply Wall St -

Update: Charter Hall Long WALE REIT (ASX:CLW) Stock Gained 25% In The Last Year

For example, the Charter Hall Long WALE REIT (ASX:CLW) share price is up 25% in the last year, clearly besting than the market return of around 5.6% (not including dividends). … We'll need to follow Charter Hall Long WALE REIT for a while to get a better sense of its share price trend, since it hasn't been listed for particularly long. … Charter Hall Long WALE REIT is not the only stock insiders are buying.

Simply Wall St -

Have Insiders Been Buying Charter Hall Long WALE REIT (ASX:CLW) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Charter Hall Long WALE REIT (ASX:CLW). … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' See our latest analysis for Charter Hall Long WALE REIT Charter Hall Long WALE REIT Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by CEO &amp; Executive Director David Harrison for AU$145k worth of shares, at about AU$4.05 per share. … Insider Ownership of Charter Hall Long WALE REIT I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders.

Simply Wall St -

Is Charter Hall Long WALE REIT's (ASX:CLW) Future Growth Already Accounted For In Today's Price?

Charter Hall Long WALE REIT is available at price-to-earnings ratio of 18.21x, showing us it is overvalued based on current earnings compared to the REITs industry average of 11.32x , and overvalued compared to the AU market average ratio of 16.15x. … However, seeing as Charter Hall Long WALE REIT is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio. … A PE ratio of 18.21x and expected year-on-year earnings growth of 13% give Charter Hall Long WALE REIT a higher PEG ratio of 1.42x.

Simply Wall St -

Should You Buy Charter Hall Long WALE REIT (ASX:CLW) For Its Dividend?

Could Charter Hall Long WALE REIT (ASX:CLW) be an attractive dividend share to own for the long haul? … Charter Hall Long WALE REIT yields a solid 6.0%, although it has only been paying for two years. … There are a few simple ways to reduce the risks of buying Charter Hall Long WALE REIT for its dividend, and we'll go through these below.

Simply Wall St -

How Much Are Charter Hall Long WALE REIT (ASX:CLW) Insiders Spending On Buying Shares?

So before you buy or sell Charter Hall Long WALE REIT (ASX:CLW), you may well want to know whether insiders have been buying or selling. … See our latest analysis for Charter Hall Long WALE REIT. … In total, Charter Hall Long WALE REIT insiders bought more than they sold over the last year

Simply Wall St -

Charter Hall Long WALE REIT (ASX:CLW) Shareholders Have Enjoyed A 18% Share Price Gain

For example, the Charter Hall Long WALE REIT (ASX:CLW) share price is up 18% in the last year, clearly besting than the market return of around 4.7% (not including dividends). … See our latest analysis for Charter Hall Long WALE REIT. … During the last year, Charter Hall Long WALE REIT actually saw its earnings per share drop 33%.

Simply Wall St -

With A 5.7% Return On Equity, Is Charter Hall Long WALE REIT (ASX:CLW) A Quality Stock?

We'll use ROE to examine Charter Hall Long WALE REIT (ASX:CLW), by way of a worked example. … Over the last twelve months Charter Hall Long WALE REIT has recorded a ROE of 5.7%. … Check out our latest analysis for Charter Hall Long WALE REIT?

Simply Wall St -

CLW Company Info

Description

Charter Hall Long WALE REIT is an Australian Real Estate Investment Trust (REIT) listed on the ASX and investing in high quality Australasian real estate assets that are predominantly leased to corporate and government tenants on long term leases. Charter Hall Long WALE REIT is managed by Charter Hall Group (ASX:CHC). With over 28 years’ experience in property investment and funds management, we’re one of Australia’s leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors – office, retail, industrial and social infrastructure. Operating with prudence, we’ve carefully curated a more than $33 billion diverse portfolio of over 820 high quality, long leased properties. Partnership and financial discipline are at the heart of our approach. Acting in the best interest of customers and communities, we combine insight and inventiveness to unlock hidden value. Taking a long term view, our $7 billion development pipeline delivers sustainable, technologically enabled projects for our customers. The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we’re powered by the drive to go further.

Details
Name: Charter Hall Long WALE REIT
CLW
Exchange: ASX
Founded:
A$2,184,409,972
376,622,409
Website: http://www.charterhall.com.au
Address: Charter Hall Long WALE REIT
No. 1 Martin Place,
Level 20,
Sydeny,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CLW Stapled Security Australian Securities Exchange AU AUD 19. Oct 2016
Number of employees
Current staff
Staff numbers
0
Charter Hall Long WALE REIT employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 10:47
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/15
Last earnings filing: 2019/08/11
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.